With profit of Rs 7.3 cr, NDTV posts best Q3 results in six years
The NDTV Group has declared a profit of Rs 7.3 crore for the third quarter ended December 31, 2018, with its broadcast company, NDTV Limited, showing its best Q3 in 11 years with a profit of Rs 4.5 crore.
In this financial year, NDTV’s broadcast operations have delivered a profit in all three quarters so far – a first in 14 years.
What is of special significance is the scale of the turnaround: so far this year, NDTV’s broadcast operations have recorded a profit of Rs 5.5 crore, compared to a loss of Rs 48 crore for the same period last year.
For the Group, the turnaround for the year so far is Rs 63 crore. This is the Group’s best Q3 in six years.
Operating costs for the broadcast company have been cut by Rs 28 crore YoY and by Rs 11 crore since the first quarter of this year.
NDTV Convergence, the company’s digital arm, has, for the first time, earned more than Rs 40 crore in one quarter. In December, the company disclosed that it has signed a record five-year advertising deal worth more than Rs 300 crore with native advertising platform Taboola.
NDTV Hop, the world’s first live channel for mobile phones (shot and streamed entirely in vertical mode) which was launched in October, crossed 1 crore views in December, establishing Proof of Concept of the channel’s appeal among Gen Z users.